ProShare Advisors LLC Sells 1,289 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

ProShare Advisors LLC lessened its position in AeroVironment, Inc. (NASDAQ:AVAV) by 23.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,178 shares of the aerospace company’s stock after selling 1,289 shares during the period. ProShare Advisors LLC’s holdings in AeroVironment were worth $761,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in AeroVironment in the fourth quarter valued at about $9,784,000. UBS Group AG grew its position in shares of AeroVironment by 20.4% in the 4th quarter. UBS Group AG now owns 87,169 shares of the aerospace company’s stock valued at $10,987,000 after purchasing an additional 14,749 shares during the period. Wells Fargo & Company MN increased its stake in AeroVironment by 44.3% during the 4th quarter. Wells Fargo & Company MN now owns 56,564 shares of the aerospace company’s stock worth $7,129,000 after purchasing an additional 17,359 shares in the last quarter. Corient Private Wealth LLC raised its holdings in AeroVironment by 1.7% during the 4th quarter. Corient Private Wealth LLC now owns 4,882 shares of the aerospace company’s stock worth $615,000 after buying an additional 80 shares during the period. Finally, Advisory Services Network LLC bought a new position in AeroVironment in the fourth quarter valued at approximately $625,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Wahid Nawabi sold 9,867 shares of AeroVironment stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $169.23, for a total value of $1,669,792.41. Following the completion of the transaction, the chief executive officer now owns 99,892 shares of the company’s stock, valued at approximately $16,904,723.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AeroVironment news, CEO Wahid Nawabi sold 9,867 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $169.23, for a total value of $1,669,792.41. Following the transaction, the chief executive officer now directly owns 99,892 shares of the company’s stock, valued at approximately $16,904,723.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Patrick Mcdonnell sold 513 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $174.70, for a total value of $89,621.10. Following the sale, the chief financial officer now owns 18,650 shares of the company’s stock, valued at approximately $3,258,155. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,287 shares of company stock worth $1,928,305. Insiders own 1.40% of the company’s stock.

AeroVironment Price Performance

Shares of NASDAQ AVAV opened at $199.23 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. The business has a 50-day moving average of $182.85 and a 200-day moving average of $177.67. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 89.74 and a beta of 0.50. AeroVironment, Inc. has a fifty-two week low of $104.67 and a fifty-two week high of $224.00.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.28. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The firm had revenue of $189.48 million during the quarter, compared to the consensus estimate of $183.18 million. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts predict that AeroVironment, Inc. will post 3.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AVAV shares. BTIG Research reissued a “buy” rating and set a $245.00 price objective on shares of AeroVironment in a research report on Tuesday, September 17th. Raymond James cut AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Baird R W upgraded AeroVironment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 28th. Alembic Global Advisors upgraded AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective for the company in a report on Wednesday, August 28th. Finally, Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $161.00 to $220.00 in a research note on Wednesday, August 28th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AeroVironment presently has an average rating of “Moderate Buy” and a consensus price target of $208.20.

AeroVironment Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.